We’ve covered a lot of ground so far in this series on the S.M.A.L.L. system on creating a new information product every week.
In part one we talked about how to SELECT a market.
Then in part two we moved on to how to MEASURE interest in your market.
The third part was all about how to AUTHOR your small report.
Here is an overview of the S.M.A.L.L. system for review:
S – SELECT a viable market.
M – MEASURE interest.
A – AUTHOR a report.
L – LOOK to repeat.
L – LEVERAGE your assets.
In this fourth instalment, it’s time to talk about why you want to LOOK to repeat.
Step 4 – LOOK to repeat.
Remember in part one when I mentioned the importance of choosing a market that you would be able to make multiple related offers to?
That’s what this fourth step in the system is all about.
I think you realize that you’re not going to make a lot of money selling small reports for a couple of bucks on the Kindle store or $15-$20 on your own site.
Even at $20 you’d have to sell 1000 copies just to make twenty grand. (I know I’m a math genius)
What if you wrote a second small ebook and sold it to your existing customers?
What if you wrote a third one and sold it to your existing customers?
What if you wrote a fourth small ebook and sold it to your existing customers?
What if you created a fifth small report and sold it to your existing customers?
If you then sold that same 1000 of each report to the same customers, you’d be looking at $100,000 instead of a “measly” $20,000.
Do you see how this works?
Here’s the thing: I can write a simple 10 page ebook in a couple of hours (at the most). I can then bang out a quick and easy sales letter for it in another hour. It then only takes a half an hour to set up a site for my report.
In a mere 3.5 hours, I have a new product that I can sell for up to $20.
It’s not unusual for me to sell hundreds of copies of these.
In the same amount of time that someone sits at their desk in the office for 8 hours, I can create myself a nice little side income stream that continues to pay me for years to come.
A few months ago I was on a plane to San Francisco and I wrote a 15-page book on How to Shave 10 Strokes Off Your Golf Game in 10 Days on the flight down. That’s another passive income stream.
My father lives about a 2 hour ferry ride away from here and I recently wrote a small report on The Natural Solution To Acne on the way over. Another income stream.
In a typical 5-day work week, you could easily pop out 5 of these small reports.
Think of the possibilities.
Not all of them are likely to be home runs but with that kind of volume, you are bound to create some that generate a significant amount of income.
Let’s look at an example in the weight loss market – one of the largest, most-profitable markets there is.
So let’s imagine that you’ve targeted people that want to get in shape and lose some weight as your target market.
You start with writing a small ebook on How To Lose 15 Pounds In 15 Days.
You write your simple sales letter and set up your site and get to work marketing your book.
Now instead of moving onto the “Secrets of Underwater Basket Weaving” market, you start to create more small reports that are tightly-related to your market.
Again, looking at our market that wants to get in shape and lose some weight, you can then create reports like:
- 7 Simple Ways To Boost Your Metabolism
- How To Get Six Pack Abs The Easy Way
- Walk Your Way To A Healthier You in 20 Minutes A Day
- The Beginner’s Guide To Bikram Yoga
This list could literally go on and on. The weight loss market is HUGE and people who are looking to lose weight are quite likely to buy multiple products on their quest to slim down.
If they pick up one of your small ebooks and are happy with the information you provide – they are much more likely to buy subsequent ebooks from you.
If you’re still in doubt about whether this works and you’re anything like me, you have a folder on your computer full of internet marketing products.
If you’ve been plugging away at internet marketing for long, chances are you have products related to affiliate marketing, traffic generation, list building, product creation and so on stashed away on your machine.
My point is, this stuff works. It’s a classic marketing model that lends itself very well to information product development and marketing.
The beauty of it is that it’s really easy to implement.
In the fifth and final part of this series, I’m going to talk about the final “L” in the S.M.A.L.L. system which is all about how to LEVERAGE your assets. See you next time!
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